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The Government Accountability Office (GAO) has announced that the personal information of U.S. citizens stored online has a “high risk” of being hacked into for purposes ranging from identity theft to extortion. The Cyber Security of Federal Information Systems collects, maintains and shares such information among government agencies, and the GAO believes that the ineffective […]

The Government Accountability Office (GAO) is responsible for keeping government spending and waste in check for the good of U.S. citizens, and the GAO has listed the IRS on their “high risk” list each year since 1990. This year, the IRS made the list for its ability to enforce our nation’s tax laws correctly. The […]

A CPA and IRA consultant from New York uncovered a proposal in President Obama’s 2016 budget plan that would severely limit investors’ ability to save using company 401k plans as well as Roth IRAs. Current laws allow savers to make after-tax contributions to Traditional IRA plans and then convert those Traditional IRAs into Roth IRAs. […]

President Obama’s proposed budget for fiscal year 2016 includes measures that would increase the capital gains tax on profitable investments to 28%. Obama also wants to put a cap on tax-advantaged retirement accounts like 401k and IRA plans. What’s more, he wants to introduce the Buffett Rule, which requires a 30% minimum federal tax rate […]

Why have 401k rollovers become so popular over the last few years? Well, since the 1980’s we have been blessed with retirement savings options that take into account our job flexibility and, thus portability. Gone are the days of 40 years with one company, getting a monthly pension and a gold watch upon reaching age […]